London, England, United States (VoA) – Lloyd’s of London insurance market on Friday widened its list of areas in and around the Gulf posing “enhanced risk for marine insurers” after attacks on ships off the UAE.
Lloyd’s said that the Gulf, part of the Gulf of Oman, Oman and the United Arab Emirates had been added to the list. Saudi Arabia’s risk areas were meanwhile expanded to include its coasts.
It comes after marine insurers in London began Thursday an extraordinary meeting to discuss the situation in the Gulf.
The meeting was of the Lloyd’s Market Association (LMA) Joint War Committee, which normally gathers on a quarterly basis to assess security risks to shipping around the world.
“The London insurance market’s Joint War Committee (JWC) has been considering developments in the Gulf,” Neil Roberts, head of marine and aviation at the LMA, which represents all underwriting businesses on the Lloyd’s of London insurance market, said in a statement Friday.
“In the light of further information received, the JWC has today issued this advisory notice to the market, amending the listed areas which detail areas of perceived enhanced risk for marine insurers and reflecting the enhanced regional risk.”
It follows insurgent drone strikes on a key oil pipeline in Saudi Arabia and the mysterious sabotage of four ships, including two Saudi oil tankers, earlier this week.
The attacks have escalated tensions between the U.S. and Iran but industry analysts have questioned the exact circumstances of the ship attacks.
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